Hii guys! it's ILL FELLA here again. This time to talk about something important: The exchange rate of the CAD to the USD.
The Canadian dollar's exchange rate is the highest it has been in awhile, standing at .77 cents US.
It has been many years (since 2012) since our Dollar has been at par with the USD. Experts are predicting that it will some time over the next few months, be there again.
Many Canadians are avoiding trips to the US because of the exchange rate. We have hopes that a surge in the Exchange between cad/usd that travelling to America will soon be worth it for us again soon.
The Canadian dollar is at a four month high against the US dollar as of Wednesday after statements from the Bank Of Canada's Governor Stephen Polo. He made it clear the central bank is suggesting an interest rate hike. Canadian monetary policy makers have issued the statements since June 11. The market went from not pricing a rate move in 2017, to a 70% chance of a climb in July. The Loonie has climbed because the Bank Of Canada's joining a chorus of other banks that've since changed the tune of their rhetoric following the lead of the U.S. Federal Reserve who has already climbed twice in this year, with a probable rate raise before the end of 2017 and a reduction of the big balance sheet also in the works.